July 2020 - Alpha 1 Tax & Wealth

Monthly Archives: July 2020

Home/2020/July

Consider Volunteering in Retirement

Some look forward to retirement as a time to relax, free of the responsibilities of work. And while this might be enjoyable at first, some retirees might eventually feel that a lack of purpose and social connections does not make for the best possible retirement. Rather than just retiring from something, it can be a good idea [...]

2020-07-31T23:47:14+00:00July 31st, 2020|Lifestyle, Giving Back|

Far-Reaching Effects of This Pandemic on Social Security and Taxes

Long after the restaurants and hotels are open again, the economic impact of the COVID-19 pandemic will still be felt by many individuals and the country. During this time of widespread unemployment, less is collected in payroll taxes that fund Social Security, while emergency federal spending has increased significantly. Here are potential far-reaching effects of [...]

2020-07-27T02:04:48+00:00July 27th, 2020|Financial Planning, Social Security, Tax Strategies|

3 Ways to Help Reduce Your Expenses in Retirement

No matter what your current age or financial position, it’s always a good idea to revisit your overall retirement plan, review your goals, investments, and budget for the future. Also, while you’re at it, you might as well try and find some new ways to help reduce your expenses in retirement. We welcome you to [...]

2020-07-25T03:35:26+00:00July 25th, 2020|Financial Planning, Retirement|

3 Tools to Help Survive Hard Times

Life is unpredictable, but that’s no reason not to have an emergency plan. This is especially important in retirement, when you must replace your paycheck and decide how to use your savings. Your retirement could be decades long, and there could be market downturns or personal hardships during that time. Here are three tools to [...]

2020-07-19T19:47:55+00:00July 19th, 2020|Financial Planning, Economy|

Tax Minimization in 2020 and Beyond

As the coronavirus spread, the government stepped in with unprecedented economic interventions, from direct payments to Americans, to relief for businesses. While these measures may be necessary to mitigate the damage done by the virus and the economic shutdown, they’ve also resulted in a ballooning of the national deficit.[1] U.S. government debt could soon rise [...]

2020-07-13T02:20:05+00:00July 13th, 2020|Tax Strategies|

What’s Your Definition of “Winning” In Retirement?

Inside each of us lives some form of competitive spirit. Whether you are a “go for the throat” type of competitor or take a more passive approach, we all like to win. It’s not in our nature to enjoy losing; it’s probably some type of primal response left over from the caveman days. Whether you’re [...]

2020-07-10T20:44:12+00:00July 10th, 2020|Retirement Planning|

3 Helpful Tips for Preserving Your Wealth

Whether you’re approaching, transitioning into, or already in retirement, it’s crucial that you develop a plan to protect your hard-earned savings. According to a recent retirement survey by the Insured Retirement Institute, 41% of Baby Boomer participants stated “monthly guaranteed income” as the #1 or #2 most important trait for their retirement investments. Having a solid [...]

2020-07-06T15:09:42+00:00July 6th, 2020|Financial Planning|

Technology and Human Interaction Play Important Roles in Retirement Planning

Bill Gates once said “technology is just a tool.” He was right, but maybe even he didn’t see just how effective that tool was going to be. Sometimes it feels like modern technology has transformed everything, to the point where the world you grew up in has nothing in common with the world today. These [...]

2020-07-03T16:46:03+00:00July 3rd, 2020|Retirement Planning, Lifestyle|